How can students find loans regardless of their credit scores?

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Students can find loans regardless of their credit scores by applying for federal student loans through the Free Application for Federal Student Aid, or FAFSA, reports Federal Student Aid. Co-signers and credit checks are not necessary for students to obtain most federal student loans, although parents and graduate students who take out direct PLUS loans must have credit checks. Loans from private lenders offered as part of FAFSA packages usually require credit checks.

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Federal loans that do not require credit checks include federal Perkins loans, direct subsidized loans and direct unsubsidized loans, explains Federal Student Aid. The U.S. Department of Education is the lender for direct subsidized and unsubsidized loans, while the schools are lenders for federal Perkins loans. Direct subsidized and Perkins loans are need-based, but students can obtain direct unsubsidized loans without proving financial need. All federal loans involve the payment of interest, although federal interest rates are fixed and usually lower than those on private loans. Students having difficulty repaying federal loans may be able to temporarily suspend or reduce their payments.

Although terms on federal loans are generally favorable, students should not borrow more than they need for their education, advises Federal Student Aid. They should research the salary they expect to get after graduation and their probable living expenses to be sure they can comfortably handle loan debt. Students must pay back the loans even if they don't finish school or can't find a job after graduation.